As the price of oil has soared over the past few months, an army of commentators has accused "speculators" of manipulating the oil market to profit from the misery of the American people. But how much are these big investors to blame for our pain at the pump, and how much is simply a matter of supply and demand?

As the crisis in Libya continues to shake world oil markets, many voices are calling for President Obama to tap into the Strategic Petroleum Reserve. With gasoline prices up 33 cents a gallon in the last month, that's a tempting idea. It's also the wrong one.

Winter in the Northeast was particularly brutal this year, but not enough to account for the likely record prices. Blame crude oil's recent price jump for that. But the pain could become even worse if Obama's proposed cut in low-income energy subsidies passes.

Gold prices suffered their biggest one-day drop since early February after the European Central Bank's emergency funding programs suggested the Continent's financial system may not be as wobbly as initially thought.